Share this article

Share

'On a personal level it means a huge amount as I now know I'll be racing in the UK as part of my title defence, which I cannot wait for.'

Former world champion Damon Hill, president of the British Racing Drivers' Club, who own Silverstone, will formally announce in London tomorrow that the race has been saved after Silverstone Holdings reached an 11th-hour deal with Bernie Ecclestone, the Formula One commercial rights holder.

Sources indicate that Jean Todt, the new president of the FIA, the sport's governing body, played a crucial role in brokering a deal before the 2010 world championship calendar is formally ratified by the Formula Commission on Wednesday.

With the clock ticking, Todt felt impelled to find a compromise between Ecclestone and Silverstone's negotiators, Neil England and Rrichard Phillips.

That compromise was welcomed. by veteran commentator Murray Walker, who has attended every British Grand Prix since Silverstone hosted the first world championship race 59 years ago.

He said: 'Without recognising its history and heritage, Formula One would be just showbusiness and men following the money.

'While the new circuits have fabulous facilities, Formula One must never forget that it needs traditional race circuits like Spa in Belgium, Monza in Italy and Silverstone.

Attractive: But Abu Dhabi can't beat the charm of Suilverstone

'Drivers and spectators love Silverstone: it's demanding and challenging and the fastest circuit on the calendar. I'm quite sure the good news that the race is to be saved will allow the BRDC to unlock their money box and, with investment from new sponsors, be in a position to upgrade the pits, paddock and circuit as Bernie has always demanded they should do.'

Ecclestone has in recent years struck deals running into tens of millions of dollars with governments in Abu Dhabi, China, Malaysia and Singapore to broaden F1's worldwide appeal.

But responding recently to the spectacular circuit that has risen from desert wasteland in Abu Dhabi at an overall cost of £850million, former world champion Lewis Hamilton said: 'This is an incredible place, but Silverstone has something money cannot buy: heritage and tradition.'

Unless there is a breakdown in final talks over the weekend, Hill will now deliver the news all British motorsport fans have waited to hear when he reveals the British Grand Prix has a permanent home at Silverstone, at least for the next five years.